But lost in the talk of Washington's dysfunction is this fact: On paper at least, President Barack Obama and Congress have reduced projected deficits by nearly $4 trillion over a decade — the widely embraced goal for stabilizing the national debt.

The spending cuts that began to take effect Friday, known as sequestration and totaling about $1 trillion through 2023, come on top of $1.5 trillion in reductions that Obama and Congress committed to in 2011, mainly from the accord that averted the nation's first debt default.

Nearly $700 billion more will come from tax increases on wealthy Americans, the product of the brawl in December over Bush-era tax cuts, and another $700 billion is expected to be saved in projected interest on the reduced debt.

If the latest cuts stick, the two parties will have achieved nearly the full amount of deficit reduction over the next decade that economists and market analysts have promoted. Yet the mix comes with substantial downsides.

It does not add up to the "grand bargain" that the two parties had been seeking because it leaves virtually untouched the entitlement programs — Medicare, Medicaid and Social Security — that are responsible for projections of an unsustainably rising federal debt in coming decades.

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"This is not a result that deals with our long-term debt problem," said Vin Weber, a Republican former congressman. "The fact we've gotten to a $4 trillion deficit-reduction deal without tackling entitlements is almost a bad thing," he added, if it lulls the public and the politicians into thinking the problem is solved.

Rockies are on pace to lose 93 games this seasonThe Rockies lost three of four in St. Louis and are on pace to lose 93 games as they come home for a three-game series with Seattle before going back on the road again to face Washington.